I've taken a list of English words, and examined each of them to see what they sound like (using the PHP metaphone function). This page lists the most common metaphone codes, along with their words. You can also search for a word of your own, and see which words sound similar - and which ones rhyme, and which ones alliterate.
play ply ploy paly pula pily plea poly pally pilau pilea palea pilaw paella pulley paleae pallia pal pul pol pillowy pull plew pule pial pawl poll peel peal pele pill polo pile pili pall pail plie plow pool puli pale pole pilei poilu polio
lay allay belay flay clay cullay play relay slay delay waylay la